How old of a car can I get an auto loan for?

[Jumpem]

Isn't it only three or four years old?

 

[toekramp]

Originally posted by: Jumpem
Isn't it only three or four years old?

this one is only 670 years old

 

[nakedfrog]

Generally around seven years old.
If it's older than that, you could probably just get a personal loan.

 

[ElFenix]

why don't you ask a bank?

 

[Jumpem]

Originally posted by: ElFenix
why don't you ask a bank?

Because then I would have to drive to the bank. I can get quick responses here.

 

[Budmantom]

It depends on the bank and your credit.


Tom

 

[xrax]

interest rate depends on length of loan. lenders won't give the best interest rates on an older car. check out a credit union. they offer pretty good rates.

 

[Ronin]

1 word.

DriveTime.

 

[sciencewhiz]

Is this so you have your own car after selling the STI or so you can sell your GFs car as well?

 

[Jumpem]

Originally posted by: sciencewhiz
Is this so you have your own car after selling the STI or so you can sell your GFs car as well?

We are getting along fine for the most part with only her Forester. We aren't selling her car because we would likely not be able to sell it for what she owes. I was thinking about getting a used 4wd compact truck to use for going to the dump and Lowes, and to drive to work once every couple weeks when our schedules conflict.

 

[RossMAN]

It depends on the lenders requirements for collateral but I'd say nothing older than 1997-98.

Call your local bank/credit union and ask them what's the oldest vehicle they would finance?

 

[Ronin]

I had a 92 financed in 2002, so it really does depend on variables.

 

[kranky]

I think what would matter more than simply the age of the car, is the amount you want to borrow compared to the book value of the car.

I'd suspect you could borrow at least 30-50% of the book value of just about any car if you have good credit and the ability to pay it back.

 

[unsped]

my credit union is 7 years, you can talk to them about older than that. some online places dont care how old it is.